Sunday, February 25, 2007

Links for 2-25-07: Businesses and taxes

From the Fort Wayne Journal Gazette an article on the perils for business people doing their own taxes:

The expression “Don’t try this at home, kids” can easily apply to small-business owners who try to compile income tax returns without the help of a tax preparer or tax prep software.
The Kokomo Tribune published an article on Congressman Donnelly's work on the Small Business Tax Relief bill. This might be a bit of a puff piece for the freshman Congressman, bu still the bill does sound interesting:
The bill will increase the deduction small businesses can take from their taxes from $112,000 to $125,000 and increase the number of businesses that will be eligible.